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Monthly Update

October 2017 NZ O&G Wrap

By Neil Ritchie

Sept 2017 O&G Wrap

By Neil Ritchie

Overseas interest in acquiring control of some of New Zealand’s major and mid-sized oil and gas companies continues.

Canadian listed Jadestone Energy is now thought to be another bidder for Royal Dutch Shell’s remaining New Zealand oil and gas assets, joining large listed multinational corporations such as fellow Canadian Vermilion Energy and Austrian giant OMV, Aussie listed Woodside Energy and even private company Greymouth Petroleum, in conjunction with global investment company KKR.

August 2017 O&G Wrap

By Neil Ritchie

Consolidations – planned and possible – look to continue in the New Zealand energy industry as participants contemplate what the future may look like for the new and remaining participants.

Top of the hoped-for list is confirmation by Royal Dutch Shell regarding Shell New Zealand’s likely exit from this country as part of its parent’s review of its global operations.

NZ O&G July 2017 Wrap

By Neil Ritchie

Energy analysts and industry insiders are waiting for the imminent announcement by Royal Dutch Shell on the sale of its remaining New Zealand assets that could command a total sale price of $NZ1 billion or more.

Companies rumoured to be interested in some Shell New Zealand assets range from large listed multinational corporations such as Austrian giant OMV and Canada’s Vermilion Energy to smaller private New Zealand firms like Greymouth Petroleum.

June 2017 O&G Wrap

By Neil Ritchie

May 2017 NZ O&G Wrap

By Neil Ritchie

The composition of the New Zealand energy sector continues to change, with “gentailer” Genesis Energy acquiring Nova Energy’s retail liquefied natural gas (LPG) business for $NZ192 million, giving the country’s biggest electricity retailer almost a fifth of the LPG market.

The deal will increase Genesis's share of retail LPG from three percent to 19 percent, making it the second largest player (by customers) in the market, behind Contact Energy.

April 2017 O&G Wrap

By Neil Ritchie

Shell New Zealand has started the much anticipated sale of its Kiwi petroleum exploration and production assets, with long-time partner Todd Energy taking complete control of the onshore Taranaki Kapuni natural gas field, while Shell takes over all of operating company Shell Todd Oil Services.

The deal, announced in early April, sees the Todd Corporation subsidiary relinquishing its half stake in Shell Todd Oil Services (STOS) while taking complete ownership of, and operatorship of, the Kapuni field.

March NZ O&G Wrap

By Neil Ritchie

February 2017 NZ O&G Wrap

By Neil Ritchie

Jan 2017 - NZ O&G Wrap

By Neil Ritchie

The New Zealand energy industry continues consolidating its activities as 2017 dawns despite recent rebounds in the world price of oil to over US$50 per barrel. However, commentators say this is to be expected as diversification now dominates a still energy-dependent world.

Australian energy giant Origin Energy is selling its New Zealand interests in the offshore Taranaki Kupe gas-condensate field and in the offshore Canterbury Basin.